Since this project has the main target of energy demand and in other to make it a successful one, they must have to plan ahead towards having an alternative or let's say an additional power supply, like we have with the use of renewable energy supply, this will always stand by for them in case of any electricity challenges which may cause a distortion on their mining rig, indeed they have invested a lot on this new facility and I hope it turns a profitable one as they have anticipated for.

Using up so many resources for an obsolete project just to get investors money. 😆  

Looking at the charts, their business model is about to collapse.

https://ca.finance.yahoo.com/quote/HUT.TO/
https://www.nasdaq.com/market-activity/stocks/hut

More than half of the companies that go public fail within 10 years, this one will too.

Bitcoin mining is unsustainable in the long term, it's all about robbing uninformed investors while pretending it is lucrative and has a bright future, while no one even wants to use it due to scalability and privacy issues, with the majority of transactions being just bots trading among themselves.

I see many of the replies have no idea about the relationship between mining and the Texas power grid which is ran by ERCOT...

If you look in top left of that picture, what do you see? Wind turbines. The mine is literally built right next to a wind farm. Texas is awash with solar and wind power generation. So much for the renewables concerns.

As to stability of the mines power: ERCOT is using money from the mining operations to fund their expansion of renewable power and have agreements in place with the all of the mines to act as massive switchable base loads to soak up excess power being generated in their areas. Remember, with solar and wind it is use it or lose it plus at certain times/conditions there in no guarantee as to how much of it there is.

When solar and wind cannot provide enough power for the rest of the state the mines are paid a stipend to shut down so power can be sent elsewhere. Win-win for all parties concerned. ERCOT gets to build a huge 'reserve power buffer' for when conditions need it because they have good customers who will buy any excess power and the mines get cheap power when there is the usual expected excess generation capacity from clear skies and good winds. That is why so many massive farms are being built there.

At least this latest one looks to be using liquid cooling so local temperatures are not an issue + no more noise complaints.  

Due to the transparent nature of Bitcoin, transactions don’t even need to be censored at the mining level, as they are on some OFAC-compliant mining facilities, but can instead be placed on a sanctioned blacklist.

These bitcoins will be forever tainted, and whoever touches them will have trouble with law enforcement.

If you still believe Bitcoin is censorship-resistant and fungible, I dare you to trade your bitcoins for those originating from a major theft - you can post your offer on a DNM.

You simply can’t have censorship resistance without proper privacy, as in Monero.

Remember Canada’s Truckers Protest (2022) ?


You see, you might get away with your Bitcoin, but if the government knows how much you have - and they do, because it’s transparent - they will force you to give it back or put you in jail.  

Simple as that.

If the truckers had used Monero directly, the government would never have known how much they received from supporters, as it’s all encrypted - just as it should be.

The outcome is the same as if the transactions were censored at the protocol level, and you can bet that soon all mining facilities will be forced to comply with OFAC regulations.


Monero grows stronger with each new regulation like this, with every delisting, it becomes more decentralized and more resistant to control as users switch to non-custodial wallets and P2P trading.
And because Monero is truly decentralized, the government can’t force miners to comply with any regulations.
Remember: Only with Monero can you truly have a boating accident.

What is really annoying is people who know all of this but knowingly turn a blind eye and push their false narrative just because they want their bags to get heavier.

Yep.
But I think the profit would be the main concern in the end, Texas or other place

That's what it is! You have literally spoke my mind. Having too much power in one's hand is not good from the perspective of decentralisation. Also having such a gigantic mining facility will give too much power to one entity, it can literally control the network. You never know what kind of expansion plan is available for the future.

I am not against mining but having one powerful and prominent figure is not good for Bitcoin.

b10c sometimes write article about it. Here are few examples,
https://b10c.me/observations/13-missing-sanctioned-transactions-2024-12/
https://b10c.me/observations/08-missing-sanctioned-transactions/

Kraken delisting Monero in EU adds just 1 hop to the end user

Oh yeah, so MUCH technical knowledge needed... it's overwhelming!
You can apply it to ANY centralized exchange and there are plenty other, easy ways to obtain sell Monero in places where it's banned.


Monero is the only cryptocurrency actually used for anything other than trading back and forth for FIAT gains. Its usage, despite delistings, is increasing, as can be seen on the charts:  
https://bitinfocharts.com/comparison/monero-transactions.html#alltime

Being delisted from centralized exchanges that require an absurd amount of KYC, violating your privacy, is making it even more resilient and censorship-proof.


I have been using Monero as a long-term investment since 2016, and I am very happy with it, especially knowing that the government will never know how much I have. With taxation of unrealized gains on the horizon, have fun with that - each year paying extortion just because you have cryptocurrency.

Monero vs Bitcoin - Price charts for the last month looking very good


This is the reason Bitcoin's code has stagnated: developers are scared of FIAT gains dropping and will not do anything that could hurt the FIAT evaluation.
Plenty of users are getting banned on CeX because their transactions were marked as suspicious by a bot that checks for tainted coins.

The value must come from something. Monero's value comes from scalability, privacy, and decentralization - it's true digital cash.  
Bitcoin was supposed to be digital cash too (remember the white paper?), but it has been turned into an investment asset, and its true value (which comes from usage) has dropped significantly, being replaced by speculation and big investors' money.